DGAP-News Schaltbau Holding AG: Subscription period for Mandatory Convertible Bond begins on 1 April 2021 - Seite 2
"In the context of our Strategy 2023 and the construction of the NExT Factory, we want to increasingly leverage our considerable technological expertise in the field of DC application security in the rail sector with a view to entering into new, dynamically growing markets in other industries with our DC components and applications. At the same time, we want to consolidate our traditional business activities in the rail sector," said Dr Jürgen Brandes, CEO of Schaltbau Holding AG. "This transaction will enable us to systematically implement our strategy as planned and within the envisaged timeframe."
Flexible conversion options also available prior to maturity date
In a public offer in Germany, which will be published today in the German Federal Gazette and on the Company's website, Schaltbau Holding AG (the "Company" or "Schaltbau") is offering a total nominal amount of EUR 60 million of subordinated and unsecured convertible bearer bonds ranking pari passu among themselves with conversion obligation at maturity ("Mandatory Convertible Bonds"). Investors should address instructions regarding the exercise of subscription rights to their respective custodian banks. In total, 60,000 bonds will be offered with a nominal amount of EUR 1,000 per bond, a nominal interest rate of 0.5% p.a. and a maturity date of 30 September 2022. The bonds will be convertible into a total of up to 2,068,965 Schaltbau shares at an initial conversion price of EUR 29.00 per share. Conversion will generally be possible at any time after the issuance of the Mandatory Convertible Bonds, however, for bonds with a volume of less than EUR 100,000 only on a quarterly basis, for the first time on 12 May 2021.
Placement of full amount already secured
Within the framework of a pre-placement agreement concluded on 1 March 2021, any bonds not subscribed by the shareholders of Schaltbau will be acquired by the AiC Group under the leadership of Luxempart, Active Ownership Group, Shareholder Value Management and Teslin Capital Management (Manager of the Midlin and Gerlin funds). The placement of the bond in the full amount is therefore already secured.